Development of Media Conglomerates by the Example of the Walt Disney Corporation Essay Example
Development of Media Conglomerates by the example of the Walt Disney Corporation
Within the last century the media industry in the United States was subject to a major change. Starting in the 1940ies, mainly evoked by the development of the television, the industry changed from the so called studio era1 to the television broadcasting era2. Through the development of television sets it became a lot cheaper for the Americans to watch television at home, than going out to a movie theater or auto theatre. Nevertheless there was still demand for movies, but competition had developed. Blockbusters were competing against the television program. Starting in the 1970ies cable, satellite, and video services became available. Additionally HBO revolutionized the television industry with the development of the first pay TV box. By 1989 Video players were already possessed by almost two thirds of the American households.3 All these changes in the industry caused a further development of the companies, which participated in the market. They changed from small companies to huge businesses with the possession of several media channels, including TV stations, magazines, newspapers, radio stations etc. These companies are called Media Conglomerates. In the following paper, the focus will be on the development of the Walt Disney Company. The development from a small company in the first half of the last century, which struggled in the market, to one of the biggest media conglomerates in the world in most recent times shall be depict as an example for the overall change in the industry. The first part of the paper is about an in-depth explanation of the development of the Walt Disney Company from the foundation until today. In the second part of the paper the situation of the media industry nowadays shall be explained at the example of the Walt Disney Company. Furthermore the changes which occurred in the media industry shall be pointed out.
The development of the Walt Disney
Within the last century the media industry in the United States was subject to a major change. Starting in the 1940ies, mainly evoked by the development of the television, the industry changed from the so called studio era1 to the television broadcasting era2. Through the development of television sets it became a lot cheaper for the Americans to watch television at home, than going out to a movie theater or auto theatre. Nevertheless there was still demand for movies, but competition had developed. Blockbusters were competing against the television program. Starting in the 1970ies cable, satellite, and video services became available. Additionally HBO revolutionized the television industry with the development of the first pay TV box. By 1989 Video players were already possessed by almost two thirds of the American households.3 All these changes in the industry caused a further development of the companies, which participated in the market. They changed from small companies to huge businesses with the possession of several media channels, including TV stations, magazines, newspapers, radio stations etc. These companies are called Media Conglomerates. In the following paper, the focus will be on the development of the Walt Disney Company. The development from a small company in the first half of the last century, which struggled in the market, to one of the biggest media conglomerates in the world in most recent times shall be depict as an example for the overall change in the industry. The first part of the paper is about an in-depth explanation of the development of the Walt Disney Company from the foundation until today. In the second part of the paper the situation of the media industry nowadays shall be explained at the example of the Walt Disney Company. Furthermore the changes which occurred in the media industry shall be pointed out.
The development of the Walt Disney